Union Budget 2024 | Multilateral financial aid to develop new AP capital will drive momentum in real estate, says Vimal Nadar of Colliers India

'The announcement of 12 industrial parks under the National Industrial Corridor with a focus on creating integrated zones will propel supply of Grade A industrial spaces,' he said.

Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2024, highlighting the Modi govt 3.0’s priorities across multiple sectors.

The Budget identified the following areas as priorities: productivity and resilience in agriculture, employment & skilling, inclusive human resource development and social justice, manufacturing & services, urban development, energy security, and infrastructure.

Here’s how industry stakeholders reacted:

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Vimal Nadar, Head of Research at Colliers India, Mumbai said, "Provision for multilateral financial aid to develop the new capital city (of Andhra Pradesh) will drive significant momentum in construction and real estate over the next few years across asset classes mainly commercial and residential."

"The announcement of 12 industrial parks under the National Industrial Corridor with a focus on creating integrated zones will propel supply of Grade A industrial spaces. This will also aid in increasing the proportion of organized superior quality stock within the industrial segment," he said.

(With Reuters inputs)

Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman presented her 7th consecutive Union Budget on July 23, 2024 under the Modi 3.0 government. This Budget brought tax relief for the middle class, while focusing on jobs through skilling, incentivising employers. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.